Thursday, June 9, 2016
Administration claims that unemployment fell to 4.7% in May is belied by the latest Harris poll.
The Labor Department reported that the headline unemployment fell to 4.7 percent. That rate does not include those who did not actively look for employment during the month or the underemployed who were working part time for economic reasons.
The Harris poll indicates that 43% of the unemployed have given up looking and that the number of people not counted in the unemployment figures grew by 664,000 to 94.7 million. Of those in the not looking category, only 22% were voluntarily out of the workforce. Of those 94.7 million roughly 73 million have just given up.